Latest Release:
Unemployment Data Release (September 15, 2023)
September 15, 2023 – The unemployment rate in Silicon Valley increased to 3.7% in August from 3.4% in July, mirroring the 0.3 percentage point increase in unemployment throughout the Bay Area (3.7% to 4.0%). This follows a decrease in the rate from June to July, according to analysis by Joint Venture’s Institute for Regional Studies. So far in 2023, the unemployment rate has increased five times when measuring month-to-month estimates and has only decreased twice (between March and April and between June and July). For comparison, the unemployment rate decreased five times (month-to-month) between January and August 2022.